Expert Warns of 'Unsustainable Path' as Americans Rack Up Over $1 Trillion in Credit Card Debt
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U.S. economy is on an "unsustainable path" according to Heritage Foundation economist E.J. Antoni.
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Americans' debt levels surging, with over $1 trillion in credit card debt for the first time.
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Consumers hitting a "wall" as they deplete savings and take on more debt.
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Interest rates on credit cards at record highs, making debt servicing costs explode.
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Government spending too much, increasing deficit and debt while interest rates rise.